SpaceX posts loss in first report as a public company but less than expected
· KRGV (NBC 5)
SpaceX reported a loss of $541 million, or 9 cents per share, in its first quarterly report as a public company, which was less than analysts expected. Revenue surged to $7.8 billion, a 90% increase compared to the previous year, driven by its Starlink satellite service, which doubled its subscribers to 12 million. Despite the loss, SpaceX's stock rose 9% during regular trading, although it later dropped. The company plans to continue heavy spending on infrastructure and AI, with expectations of reaching $1 trillion in revenue by 2030. SpaceX aims to test the reusability of its Starship rocket soon, with plans for lunar missions by 2028.
AI summary · Source: KRGV (NBC 5) →
